JTC has announced further growth in the first half of 2020 in its interim results published today.
JTC, which is headquartered in Jersey and listed on the Main Market of London Stock Exchange, reported a 15.2% increase in revenue in the first six months of 2020 to £53.7m.
This reflects a combination of net organic growth of 10.1% and growth from acquisitions of 5.1%.
Additionally, there is a reported increase in earnings (adjusted underlying EBITDA) of 11.2% to £17.9m (up from £16.1m in the first half of 2019).
Strong performances by both the Institutional Client Services (ICS) and Private Client Services (PCS) divisions were also highlighted, with ICS reporting a 19.6% increase in gross revenue to £30.3m and PCS a 10% increase to £23.4m.
Strategic highlights for the period included the acquisition of Sanne’s private client business in Jersey (completed 1 July), and technology-enabled fund administration business NES Financial (NESF) in the US (completed 29 April).
JTC also acquired a small bolt-on in the UK (Registrar Services) and established a presence in Ireland on a greenfield basis with a new office in Dublin (Corporate Services).
CEO Nigel Le Quesne (pictured) commented: "In the first half of 2020, we all faced extreme challenges at very short notice. Our priorities were the safety of our people, uninterrupted service for clients and maintaining the long-term performance of the group. The strong results delivered in H1 are testament to the resilient nature of our business, the quality of our people and the loyalty of our client base.
“Our outlook remains positive. We will continue to focus on the integration of the Sanne private client and NESF businesses, while working to grow the group through client service excellence, improving operational efficiencies and making greater use of technology.
"We will also remain open to acquisition opportunities that fit our disciplined approach to inorganic growth.”
• The full set of results can be found here